2023-12-31-accounts - Aylott Janes Almshouses

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Page
Registered Social Housing Provider Information
Trustees Report
Report ofthe Independent	Auditors
Statement ofComprehensive	Income
Balance Sheet
Statement ofChanges in Reserves		10
Statement ofCash Flows
Notes to the Financial Statements		12

	AYLOTT JANES ALMSHOUSES	AYLOTT JANES ALMSHOUSES	AYLOTT JANES ALMSHOUSES
REGISTERED SOCIAL HOUSING		PROVIDER INFORMATION
	for the Year Ended 31December 2023
STATUS:	Unincorporated	charity	registered	15January		1963
	Charity Registered Number 200230
	Regulator ofSocial Housing Number				A0211
TRUSTEES
CHAIRMAN:	Councillor D Agbley		(Resigned	6June 2023)
	JYoung		(Appointed		6 June 2023)
OTHER TRUSTEES:	C Tollervey
	P Banks-Smith
	KA Cowan
	Father RBrown
	JYoung
	Councillor JHussain
	Councillor FBegum
	Councillor CIsles		(Appointed		6June 2023)
CLERK TO THE TRUSTEES:	Duncan Welch &Co
REGISTERED OFFICE:	Peterson House
	2a Tennyson Road
	Luton
	Bedfordshire
	LU13RT
AUDITORS:	Miller &Co
	5 Imperial Court
	Laporte Way
	Luton
	Bedfordshire
	LU4 8FE
B~RS:	Metro Bank
	10 - 20 Castle Street
	Luton
	Bedfordshire
	LU1 3AJ
INVESTMENT MANAGERS:	JM Finn &Co
	4 Coleman Street
	London
	EC2R 5TA

	The Regulator for	The Regulator for	Social	Housing	Housing	Housing		Value	Value	AJA 2023	AJA 2022	SPBM'
	Metrics											2023
	Reinvestment %									0%	0%	3.70%
	New Su	I Delivered	%
2a	New Su	1 Delivered	Social Housin				Units			0%	00/	QO/
2b	New Su	1 Delivered	on-social			Housin			Units	0%	0%	0%
	Gear'									0%	0%	13.24%
	EBITDA	MRI Interest	Cover	%						0%	0%	168%
	Headline 0 eratin	Social Housin Mar '	Cost	Per		Unit		Per Annum		Z4,669	E3,698	f.5,395
6a	0 eratin	Mar in Social Housin			Lettin				s Onl	4,98 %	10.60%	13.34%
6b	0 eratin	Mar in Overall								4.98 %	10.60%	13.21%
	Return On Ca ital Em		lo ed							0.46 %	0.95%	1.86%

	for the	Year Ended 31De	cember 2023
			2023	2022
		Note
Turnover			160,117	148,971
Operating	expenditure		(168,092)	(133,147)
Operating	(deficit)/surplus		(7,975)	15,824
Income from fixed asset investments			34,675	18,893
Movements	in fair value of
financial instruments			45,709	(31,948)
Total comp	rehensive income for the year		72,409	2,769

				2023		2022
			Notes
FIXEDASSETS:
Freehold Housing Properties					741,360		752,335
Investments					900,855		815,045
					1,642,215		1,567,380
CURRENT ASSETS:
Debtors				18,621		9,415
Cash at bank and in hand				75,265		88,767
				93,886		98,182
CREDITORS: Amounts		falling
due within one year				12,446		11,718
NET CURRENT ASSETS					81,440		86,464
CREDITORS: Amounts		falling
due after more than one year					159,831		162,429
TOTAL NET ASSETS					f.1,563,827		E1,491,415
RESERVES:
Restricted funds:
Endowment reserve			12		680,883		629,586
Restricted reserve			12		226,884		192,366
					907,767		821,952
Unrestricted funds:
Income and expenditure	reserve				656,057		669,463
					K1,563,S24		E1,491,415

		Income and
		expenditure	Restricted	Endowment
		reserve	reserve	reserve	Total
		f.
At 1 January 2022		673,217	169,098	646,331	1,488,646
Surplus / (deficit) for the year		34,717	(5,081)	(26,867)	2,769
Total comprehensive	income	707,934	164,017	619,464	1,491,415
Transfers between	funds	(38,471)	28,349	10,122
At 31December 2022 and 1 January 2023		669,463	192,366	629,586	1,491,415
Surplus / (deficit) for the year		26,700	5,015	40,694	72,409
Total comprehensive	income	696,163	197,381	670,280	1,563,824
Transfers between	fimds	(40,106)	29,503	10,603
At 31December 2023		656,057	226,884	680,883	1,563,824

					Note	2023	2022
Net cash	flow	from operating activities			15	(8,07	22,918
Net cash	flow	from investing activities
Dividends	received					34,675	18,893
Payments	to acquire investments					(40,106)	~38,471
Net cash	flow	from investing					19,578
Net (decrease)		/ increase in	cash and cash equivalents			(13,507)	3,340
Cash and	cash	equivalents	at beginning	ofthe year		88,774	85,434
Cash and	cash	equivalents	at end ofthe	year		75,267	88,774
Cash and	cash	equivalents	consist of
Cash at bank and on hand						75,265	88,767
Cash on deposit		with brokers				2	7
Cash and	cash	equivalents	at end ofthe	year	16	~75267	88,774

HOUSING LETTING	S
						2023	2022
Turnover
Contributions receivable net		of	identifiable	service charges and voids		149,703	139,939
Service charge income						7,816	6,434
Amortised government	grants					~2598	~2598
Turnover from social	housing		lettings			160,117	148,971
Administrative expenditure		(note 17)
Management costs						37,269	37,587
Service charge costs						26,287	24,019
Repairs and maintenance						93,561	60,556
Gifts to tenants							10
Depreciation ofhousing	properties					1~0975	10,975
Administrative expenditure		on social housing lettings				168,092	133,147
Operating (deficit)/surplus		on	social housing lettings			7 975	15,824
Void losses						5,391	6,495
All turnover and expenditure		is	in respect	ofhousing	for older people.
TANGIBLE FIXEDASSETS
							Freehold
							Housing
							Property
Cost
At 1 January 2023 and 31December 2023							829 160
Depreciation
At 1 January 2023							76,825
Charge for year							10,975
At 31December 2023							87,800
Net book value
At 31Deceruber 2023							141360
At 31 December 2022							752,335

INVESTMENTS
	Cost	Market
		Value
Endowment fund
Balance brought forward	316,568	622,672
Additions in year	0	0
Disposals in year	0	0
Accumulated income	10,603	10,603
Change in market value	0	40 694
Balance carried forward	327,171	673,969
Cash on deposit at brokers	2	2
Total endowment funds	327,173	673,971
Extraordinary repairs fund
Balance brought forward	181,522	192,366
Additions in year	21,600	21,600
Disposals in year	0	0
Accumulated income	7,903	7,903
Change in market value	0	5015
Balance carried forward	211 025	226 884
At 31December 2023	538,198	900855
At 31December 2022	498,097	815,045

	DUE WITH	IN ONE YEAR
			2023	2022
	Contribution	arrears	1713	3,368
	Prepayments	and accrued income	16908	6,047
			18621	9415
7.	CREDITORS: AMOUNTS FALLING
	DUE WITHIN ONE YEAR
			2023	2022
			f.
	Contributions	paid in advance	5,493	5,193
	Accrued expenses		4,355	3,927
	Deferred income		2,598	2,598
			12,446	11,718

DUE AF	TER MORE THAN ONE YEAR
		2023	2022
Deferred	income	159 831	162,429
		159831	162,429

RESTRICTED FUNDS
		2023	2022
ENDO JFME1VTRESERVE
Brought forward		629,586	646,331
Net transfers from income and expenditure	reserve	10,603	10,122
Movement in fair value		40694	~26 867)
Carried forward		680 883	629,586

RESTRICTED RESERVE
Brought forward		192,366	169,098
Net transfers &om income and expenditure	reserve	29,503	28,349
Movement in fair value		5,015	~5,081
Carried forward		226,884	192,366

ASH FLOW FROM OPER	ATING ACTIVITIES
		2023	2022
Surplus / (deficit) for the year		72,409	2,769
Amortised housing grant		(2,598)	(2,598)
Depreciation oftangible fixed	assets	10,975	10,975
(Decrease) / Increase in creditors		728	(417)
Decrease / (Increase) in debtors		(9,206)	(866)
Dividends receivable		(34,675)	(18,893)
Movement in fair value offixed asset investments		(45,709)
31,948
Net cash flow from operating	activities	~8,076)	22,918

	At 01.01.23	Cash flow	At 31.12.23
Net cash
Cash and cash equivalents	88,774	(13,507)	75,267
	88,774	(13,507)	75,267
Total	88,774	(13,507)	75,267

FINANCIAL INSTRUME	N	TS
									2023		2022
The carrying amounts ofthe		charity's	financial		instruments	are	as follows:
Financial assets
Measured at fair value through the statement ofcomprehensive							income:
-Fixed asset listed investments (note			5)						900,855		815045
Debt instruments measured		at amortised		cost:
- Other debtors (note 6)									1,713		3,368
Financial liabilities
Measured at amortised cost:
—Other creditors (note 7)									9848		9,120
The income, expenses, net	gains and net			losses attributable		to the	charity's	financial	instruments	are as follows:
Income and expense
Financial assets measured	at fair value		through		the
statement ofcomprehensive		income:							20,133		16,007
Net gains and losses (including changes				infair	value)
Financial assets measured	at fair value		through		the
statement ofcomprehensive		income:							45,709		~31,948

PERATING COST	S
						2023	2022
Management costs
Property insurance						3,850	3,408
Subscriptions						582	333
Fee for right ofway						150	150
Management charges						27,600	27,600
Auditors' remuneration						2,016	1,920
Auditors' remuneration			—non audit work			1,356	1,290
Legal and professional		fees				1,475	2,886
Bank charges						240
						37269	37,587
Service costs
Water rates						7,816	6,432
Council tax on empty	properties					1,599	1,347
Light &heat on empty properties						373	1,242
Sundry expenses						994	937
Lighting ofcommon	areas					2,000	1,668
Warden's light and heat						2,330	1,382
Warden's telephone						1,382	1,362
Warden's council tax						1,404	1,336
Warden's water rates						166	114
Warden's Christmas	box gift					250	250
Warden call system						1,823	1,634
Cleaning						2,330	2,305
Garden maintenance						3,820	3,980
						26,287	24,019
Day to day repairs and			maintenance
Repairs and servicing	to		boilers			2,243	3,370
Gas safety check and	servicing					3,570	3,468
Plumbing repairs						5/08	3,763
Warden call maintenance						3,790	3,697
Redecoration and refurbishment					offlats	48,296	32,789
Fire extinguisher servicing				and replacements		845	606
Electrical repairs						11,098	7,234
General repairs						18,411	5,629
						93 561	60,556